A group of blockchain advocates urged the United States Congress to clearly define NFTs in response to the SEC Wells notice to OpenSea.
OpenSea CEO Devin Finzer said that the NFT marketplace received a Wells notice from the SEC, suggesting potential enforcement action from the agency.
Magic Eden led the NFT market in August with $122.47 million in trading volume, securing 36.7% market share.
OpenSea faces SEC scrutiny as the debate over NFTs as unregistered securities heats up, causing a stir in the crypto world.
The SEC has targeted the largest NFT marketplace for unregistered securities trading, and the crypto community is outraged.
Atlas Development chief legal officer Oscar Franklin Tan stated that the Wells notice “does everything except provide us with clear rules to follow.”
OpenSea, one of the largest marketplaces for non-fungible tokens (NFTs), found itself at the center of controversy after the Securities and Exchange Commission (SEC) issued a Wells Notice early Wednesday over the alleged classification of NFTs as “securities.” This prompted reactions from prominent figures in the crypto industry, US senators, and market experts, all of […]
It’s unclear whether the SEC will pursue an enforcement action against the OpenSea marketplace, but its CEO alleged regulators “believe NFTs on our platform are securities.”
"We're shocked the SEC would make such a sweeping move against creators and artists," says CEO of OpenSea
Physical versions of the popular Pudgy Penguin NFT collections are selling like hotcakes.
Yuga Labs, creator of the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has announced a company restructuring and layoff for the second time in a little over six months. This announcement was made by the company’s CEO and co-founder, Greg Solano, who took the leadership position in February. ‘Lost’ Yuga Labs Needs To […]
CoinGecko cited Magic Eden’s new Diamond reward program and its ongoing commitment to support creator royalties as the main catalysts.
OpenSea has debuted its integration with ERC-721C, a new standard that enables programmable earnings for NFT creators.